Several major US banks have restarted facilitating trades in Russian debt obligations after getting a green light from Washington, Reuters reported on Monday, citing bank documents. According to the report, Wall Street giants JPMorgan Chase, Bank of America, Citigroup, Deutsche Bank, Barclays and Jefferies have so far “cautiously returned to …
Read More »India wants to bypass dollar to keep trading with Russia
India is in search of efficient tools to skirt around the latest penalties imposed on Russia over the conflict in Ukraine, as New Delhi looks to keep trade with Moscow going, Indian media reports. Among the options reportedly being considered are making settlements via foreign financial institutions that don’t operate …
Read More »Pelosi makes about-face on insider trading in Congress
Previously openly opposed to banning stock trading by members of Congress, Speaker of the House Nancy Pelosi (D-California) appeared on Thursday to change her mind. Her apparent openness to a proposal floated by two Senate Democrats, however, was conditioned on demanding the same of US Supreme Court justices. “I have …
Read More »US politicians make a fortune from trading stocks in office. It’s time they were stopped
A hot topic in US politics right now is whether members of Congress should be able to trade stocks while in office. Georgia Senator Jon Ossoff plans to introduce a bill that would bar members and their immediate family members from trading individual stocks in the stock market, which comes …
Read More »Top US central banker resigns amid trading scandal
Federal Reserve Board vice chair Richard Clarida has announced he will step down two weeks before his term is set to expire. His recently amended 2020 financial disclosures raised speculation about potential insider trading. Nominated by President Donald Trump and confirmed in September 2018, Clarida was the top aide to …
Read More »Turkish stock market halts trading as lira crashes
“As of 16.24 (Istanbul time) transactions have been temporarily halted on the market of all shares of our stock exchange,” the exchange said in a statement. The country’s currency has collapsed amid pressure from President Recep Tayyip Erdogan on the central bank to lower borrowing costs to boost the growth …
Read More »Cristiano Ronaldo trading card expected to sell for $1MN at auction – with bidders able to pay for digital token in cryptocurrency
Auction experts Bonhams said that they will put the one-of-a-kind version of the Portugal captain’s card up for sale at their auction between November 1 and 11, with a global fantasy football company set to mint the digital token. The “crypto craze” could form part of the deal in another representation of the …
Read More »Federal Reserve bans stock trading, other investments for top officials after controversies
The US’ central bank released a statement on Thursday, detailing the broad new rules, which limit senior Federal Reserve officials to “purchasing diversified investment vehicles, like mutual funds.” This will mean top officials cannot hold individual bonds or stocks in public companies. New regulations also require that permitted investments, like …
Read More »Bitcoin will skyrocket to $168,000 when futures start trading on Wall Street – Fundstrat
The New York-based researchers, who had previously projected the world’s most valuable cryptocurrency to hit $100,000 by the year’s end, now say that the ProShares ETF may attract substantial inflows from investors, thus boosting the price of bitcoin. According to Fundstrat, the new bitcoin futures ETF will deliver higher first-year …
Read More »Senator Rand Paul accused of ‘insider trading’ after he belatedly reveals wife invested in pharma firm in early days of Covid-19
The Kentucky Republican acknowledged the stock buy on Wednesday in a Senate filing, the Washington Post reported, noting that Paul missed the mandatory 45-day deadline to disclose such trades by around 16 months. According to the filing, the senator’s wife invested between $1,000 and $15,000 in the stock of Gilead Sciences, …
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